This post was originally published on this site
A measure of business conditions in the Chicago region slipped in September to its lowest level in seven months, a trade group said Thursday.
The Chicago Business Barometer, also known as the Chicago PMI, slowed to 64.7 in September from 66.8 in the prior month. The index has been moderating from a record high of 75.2 in May.
Economists polled by the Wall Street Journal forecast a 64.3 reading in September.
The Chicago PMI hit a record high of 75.2 in May.
Firms said freight difficulties and the available supply of raw materials continue to hamper production.
The index is produced by the ISM-Chicago with MNI. It is released to subscribers three minutes before its release to the public at 9:45 am Eastern.
The Chicago PMI is the last of the regional manufacturing indices before the national Institute of Supply Management data for May is released on Friday.
Economists expect the ISM index to slip to a still strong 59.5 in September from 59.9 in the prior month.
U.S. stocks
DJIA,
SPX,
opened higher on Thursday on signs that a government shutdown will be avoided.
